BC Advantage - 2015 Issue 10

Switching to the Healthcare EFT Standard: 4 Ways to Ease the Transition

Healthcare electronic funds transfers (EFTs) via ACH-the Healthcare EFT Standard-can make practice management easier and more affordable-and switching doesn't have to be difficult. Compared with other payment methods, providers can save up to $7.21 per payment using EFTs via ACH in combination with electronic remittance advice (ERA), according to the 2014 CAQH Index. EFT via ACH payments, which transfer funds electronically from the insurer's account to the provider's account, are also faster than other methods, with funds available the same day they're received.Additionally, going electronic also has security and efficiency benefits. Because they're transferred digitally, EFTs via...

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